Legal Question in Wills and Trusts in Michigan
division of assets after a death
my grandfather passed away a couple of years ago. My Aunt was named the executor.
Before he passed he had to be placed in a nursing home. In order for him to qualify for medicaid - an elder law attorney helped my Aunt by moving $25M from his checking account into a couple of other accounts. One was used to pay for his nursing care and the other was set up in my Aunt's name ($18M). The account was title as a household contract account which was used to pay household expenses on my grandfathers home. The account now has less the $10M and the home is currently being sold. My Aunt claims that she does not have to share any of the money in the household account with my mother and that she only has to share the proceeds from the sale of the house. I'd like to know if this is true.
3 Answers from Attorneys
Re: division of assets after a death
You are talking about millions of dollars and would do well to have an in-person consultation with an expert estate planning attorney. Act quickly to avoid wasting further assets. A consultation should cost you nothing.
If you have further questions or concerns, please contact me via my website at www.lawrefs.com.
Re: division of assets after a death
Your message ends with a two part question. The easier part, having to do with the sale of the house, is that if your grandfather owned the house in his own name alone, then the house would be part of his probate estate and subject to his will or to rules that apply when there is no will. If your aunt and your mother are the only living children of your grandfather, it is probably true that the proceeds from the sale of the house would have to be shared between the two of them. If there are additional children, then they would also share in the proceeds from the sale of the house.
The other part of your question is a little more complicated. The recommendations made by the elder law Atty. would have to be examined. If the elder law Atty. did suggest that money be moved from your grandfather's checking account into an account in your aunt's name alone, then that money is hers. If that was the recommendation of the elder law Atty. and your aunt did that correctly, you might see a moral obligation on her part to share that money but there is no legal obligation to do that.
If you can chat with the elder law Atty., or if that attorneys recommendations are in a memorandum or other writing that you can examine, you ought to look for provisions controlling the "household contract account" after the death of your grandfather.
Re: division of assets after a death
it all depends on a reading of the documents drafted which set up this contract. I would be happy to provide you and your mother a free consultation to review these documents and give you strategy and advice. Visit me at www.kliszlaw.com to find out more and to contact my office. Tim Klisz
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